asknet and 5EL SA exploit synergies from cooperation

• Development of marketing initiatives and joint customer groups
• Review of guidance for FY 2017, therefore, suspension of 9-months publication
• Positive effects already expected in 2017

asknet AG, a supplier of global e-commerce solutions, is currently focusing on the evaluation and leverage of synergies within the framework of the recently entered cooperation with the new majority shareholder 5EL SA. Important synergies include, for example, the use of marketing expertise within 5EL for offerings to existing customer groups, such as students and online merchants, and joint sales initiatives towards existing and new large corporate brand clients of 5EL.

The Management Board assumes that the synergies already identified and to be leveraged will have a clearly positive impact on the business development as early as in the FY 2017. For this reason, and as the process ties up important personnel resources, asknet AG is foregoing the voluntary publication of the 9-months figures announced for November this year. The Annual Report 2017 of asknet AG will be published as usual in the spring of next year, with 5EL and asknet to synchronize their financial reporting dates in the future along the semiannual publication schedule to be released shortly.

“Together with our new partner 5EL SA, we are currently concentrating intensively on the identification and leveraging of synergies of our competencies, with the emphasis on increasing sales and potential cost savings, which need to be further quantified,” commented Tobias Kaulfuss, the Chief Executive Officer of asknet AG.